Wednesday to Sunday!
31 Jan – 4 Feb 2018
Since 2016, birth rates have fallen off a cliff, dropping by 12% in 2018. In another troublesome sign for China’s fertility planners, marriage rates hit record lows in 2018. Couples need to be married in China to legally have a child. So should infant formula brands, LEGO, Disney & other companies hoping to sell their wares to Chinese youngins be revising their revenue forecasts down? Not at all.
As Chinese families’ affluence rises, a disproportionate share of the increase goes to their child. As they only (in most cases) have one, few cut corners. A child born today will have parents earning 130% more than those born a decade ago. There have been countless surveys with Chinese shoppers over the years about how they would spend additional wealth, and a large percentage always cite they’d spend it on their child’s education and development.